The Financial Express

Bourses drop at opening

| Updated: July 29, 2022 08:59:21

Bourses drop at opening

Stocks slumped at the opening on Wednesday as the jittery investors went on a sell-off again amid growing tension over macroeconomic cues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25.99 points or 0.42 per cent to stand at 6,086, after the first hour of trading at 11:00 am.

Two other DSE indices saw a downturn till then. The DS30 index, which consists of the blue-chip companies, fell 14 points to 2,176 while the DSES index, which represents Shariah-based companies, dropped 5.37 points to 1,328.

Turnover, another important indicator of the market, stood at Tk 2.10 billion after the first hour of trading.

Market insiders said the panic-stricken investors kept their sell-off as they apprehended the market might lose further as various media reports warned about the upcoming risk to the country’s economy.

Besides, the Bangladeshi Taka (BDT) continued to slide against the US dollar (US$) as the greenback hit an all-time high of Tk 112 each in the kerb (open) market, they said.

Of the issues traded till then, 218 declined, 101 advanced, and 53 issues remained unchanged on the DSE trading floor.

KDS Accessories was the most traded stock till the filing of this report with shares worth Tk 170 million changing hands, closely followed by Beximco, Matin Spinning, Kattali textile and IPDC Finance.

The Chittagong Stock Exchange also opened on a downward trend with its All Shares Price Index (CASPI)—losing 81 points to stand at 17,890 while the Selective Categories Index – CSCX – shed 48 points to reach 10,719, also at 11:00 am.

Of the issues traded till then, 115 declined, 32 advanced, and 19 remained unchanged with a turnover of Tk 36 million.

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